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Information on Hurricane Insurance in Florida part two


As mentioned in the previous article, legislations such as FUWA are enacted when government feels that the private insurance companies are overstating the cost of hurricane damage. Also some private insurance companies charge their more “exposed to hurricanes” customers a high premium and over the years they accumulate a high amount, this amount they may be tempted to use for giving bonuses and dividends. When a big hurricane strikes they may actually not have the money to reimburse claims.

Hurricane Andrew of 1992 is a good example; it caused a total damage of around $25 billion of which $16 billion was insured. The insurance costs broke the back of eleven insurance companies and left the Florida Insurance Guaranty Association and other insurance companies to foot the claims of these eleven insurance companies. The remaining insurance companies did a rethink on the extent of cover they were offering; they drastically reduced the cover and also the number of policies they were offering.

The State of Florida had to step in to ensure that not too many companies cancelled too many policies or else many Florida natives would be left facing risks that would ruin them financially. The state passed a law that limited the number of policy cancellations to 5% per annum at the state level and 10% per annum at the county level. It put restrictions on the extent of premium increase that the insurance companies could force on to the home owners.

And yet, insurance companies still managed to wriggle out of the situation; for example the “Allstate Insurance Group” reduced its market share from around 21% in 1992 to around 11% after eight years. What was worrying was that the customer reductions were concentrated in the high-risk areas. The state stepped in after Hurricane Andrew and formed the "Florida Residential Property and Casualty Joint Underwriting Association" (JUA). Its objective was to offer insurance cover at reasonable prices to those people who were unable to get such insurance from the private sector insurance companies.

The FWUA and the JUA covered exposure worth $180 billion by 1996; the absence of a major hurricane for some years saw renewed optimism amongst private insurance companies who chose to add to their portfolio. As a result by the year 2000 the JUA portfolio had fallen to below to 10 billion USD.

 

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TESTIMONIALS

Steve R. - April 2017 - Wellington, Florida

Thanks for delivering the Storm Panels on Friday.  The shutters work great and were very easy to install!

Mark M. - March 2017 - Stuart, Floirida

I am very happy with quality, design, function and especially the staff. Made the project go perfectly.  My son and I hung all three Saturday morning in about two hours. He’s a glazier with Last Chance Glass and he said he thought it was excellent workmanship.
Thank you so much.

Alan R. - February 2017 - Montague, Michigan

Michael, this is Alan from Michigan we ordered 3 Rolling Shutters from you late last year.  We just installed them and the customer is very happy. Thank you, the quality of your shutters and ease of install made it enjoyable to use your product.

Bob O. - January 2017 - North Fort Myers, Florida

I received the Accordion Shutter delivery this evening....  No damage... How could there be any damage!!!!!? You packed the units so professionally!!!!!!!  It is a shame other companies do not pack their stuff as well.  Well done to the staff.....  Wishing you all the best.  


John C. - December 2016 - Port St. Lucie, Florida

The Accordion Shutters went in so easy.  OUrTown inspector passed them.  No problems.  The installation was a breeze. We love our new shutters and you can use us as a reference. Best regards..  John

Dan F. - November 2016 - Scituate, Massachusetts

The Accordion Shutter is up and great. Very easy to install.  I love it! Thank you.


Ray W. - October 2016 - La Porte, California

 I just wanted to thank you. We installed the five shutters this weekend and LOVE them!  The quality is better than I had expected and the fit and Finish was perfect. You will be hearing from more cabin owners here in the LaPorte CA area once they see these.  I have attached a photo of one of the windows, the two tone was a nice touch.
Again thank you!


Victor B. - September 2016 - Ft. Lauderdale, Florida


The Accordion Shutters turned out great,  passed inspection with compliments from the building inspector and the homeowner.
Thank you.


 Gary S. - August 2016 - Port St. Joe, Florida

The Bahama Shutters arrived safely Tuesday and they’re all ready installed. Thank you and I’m  looking forward to working with you in the future for the new home I plan to build on some new property I just purchased. Thanks again.


Joel P. - July 2016 - Cedar Key, Florida


The Bahama Shutters look great. I was concerned that they would be diffucult to put up but it was easy. Your product is high quality and beautiful! People in my neighborhood are asking me where to get them.  I will gladly be recommending your company to them and placing an order for the rest of my house soon.  Thanks for a wonderful product!! 


Michael M. - June 2016 - Merritt Island, Florida


Good Afternoon. I just wanted to show you photos of my back service door shutter on my garage that I just finished installing.  Because my job requires me traveling, I will not be able to do the (3) front windows for a little while later. Also without bothering him again, I wanted to send a BIG THANK YOU to Bill for his help & knowledge in guiding & educating me through this installation. I did as he told me to do and the results came out as he said that they would. Yessssssssssss👍👍👍👍👍😀😀😀😀😀😀😀😀😀😀
Thank you again

 

Thaddeus S. - April 2016 - Nassau, Bahamas

You all did an excellent job on my accordion shutters.  They went together like a simple puzzle.  I will be recommending you to my family members!


Doreen J – March 2016 – Grand Turk, Turks and Caicos


Hello I love my hurricane shutters and I also sent a picture. I will give other people your address as well.  Thanks for everything.
 

Jessica H. – February 2016 – Jacksonville Beach, Florida

We looooooooooooooooooooooooove our shutters!  I am so grateful you helped me with the measurements!  They look amazing!  Thanks again!

Fred M. – January 2016 – Corpus Christi, Texas 

Good morning.  We got the rolling shutters and everything went well with the installation.  I'd like to add them to my web page and market these. I was wondering if you could send me something, like a link and whatever i could use to link to my webpage?  Anything would help.

Tom W. - December - 2015 - Coos Bay, Oregon

I just wanted to let you know that your Rolling Shutters are fantastic. So far they have held up well against a very punishing Oregon coast weather that our beach gets hammered with in the winter. There is so much sand shifting that we actually have to own a Bobcat to move sand all winter long. If you want a testimonial just ask a few of us that have your shutters.

Louis E. - October - 2015 - Alliquippa, Pennsylvania

"I have installed the shutters on my OLD house in Pennsylvania, And I was very impressed with the quality of the Bahama Shutters,,Heavy Aluminum Powder coated finish...I won't have to get up there and every Paint these again.. Also I can leave the window open during a rain and not have to worry about the rain getting the house.. And the best thing the house stays nice and cool with out The Air Conditioner running.. I Love them.."

Brian M. - September - 2015 - Gulf Shores, Alabama

Michael, I wanted to thank you for all the time and information you gave me on the phone today regarding hurricane shutters for this project on the Gulf coast. Your expertise was evident and customer service excellent! As a licensed contractor myself, it is a pleasure doing business with a company such as yours. Keep up the great job!

Bill C. - August - 2015 Cabo San Lucas, Mexico


Thank you for very good service.  It is much appreciated!

David C. - July - 2015 - Maui, Hawaii

The Bahama Shutters have been received; just in time for our first storm....  Thanks to you, I am READY!!! 
Mahalo & Aloha

Gary F. - April - 2015 -  San Clemente, California

Just a note to thank all at Hurricane Shutters for a wonderful job. From start to finish your team was there to help guide me and delivered what you promised.

 Soams S. - February - 2015 - Orange Park, Florida

Wow!! My Bahama Shutters are very nice looking. I really like the shutter contrast color with my house!  Thanks to all your crew for all the hard work on my behalf. Your assistance and product are outstanding.  I love the shutters.  Thanks again for your great product support. I will send pictures soon. Please feel free to use me as a reference.

Patrick R. - January - 2015 - Long Island, New York

I Just had my Rolling Shutters installed (on 5 sliders) yesterday on our oceanfront beach house in New York where they will provide protection from Noreasters' and hurricanes. In addidtion, they will provide a solid measure of security! Thank you all at Empire for a job well done!

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PRODUCTION TIME
Accordions : 10 - 14 Days
Bahamas/Colonials : 3 - 4 Weeks
Clear Panels : 5 - 7 Days
Hurricane Fabric : 10 - 14 Days
Impact Windows : 6 - 8 Weeks
Rolling Shutters : 2 - 3 Weeks
Storm Panels : 5 - 7 Days

 

 


 

  Hurricane Shutters made in the USA

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